From Alan’s The Age of Turbulence:
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I got more deeply involved only in November, when a senior official at the Bank of Japan called the Fed to warn that South Korea would be the next to go. “The dam is bursting” is now the official put it, explaining that Japanese banks had lost confidence in Korea and were about to stop renewing tens of billions of dollars in loans.

This was a shock. A symbol of Asia’s remarkable growth, South Korea was not the world’s eleventh-largest economy, twice the size of Russia…. And while market watchers knew that there had been problems recently, the economy by all indications was still growing solidly and fast. Korea’s central bank was also sitting on $25 billion in dollar reserves- ample protection against the Asian contagion, or so we thought.

What we didn’t know, but soon discovered, was that the government had played games with those reserves. It had quietly sold or lent most of the dollars to South Korean commercial banks, which in turn had used them to shore up bad loans. So when Charlie Siegman, one of our top international economists, phoned a Korean central banker on Thanksgiving weekend and asked, “Why don’t you release more of your reserves?” the banker answered, “We don’t have any.” What they’d published as reserves had already been spoken for.
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>>that Japanese banks had lost confidence in Korea and were about to stop renewing tens of billions of dollars in loans.

Japanese financial institutions were a lot better off if they did such wise decision on their government and banks for real-estate developers.

It's such an amusing thing to see that Japanese people still believe they directly funded saving-loans to Bank of Korea in post 1997 crisis period.

Some of them are saying Japan was the second-biggest IMF share holder so it can be understood that Japan directly funded.

Let me say the truth that it was their direct-risk avoidance decision after they witnessed their Nikkei Market fell down significantly because investors judged that Listed-Japanese companies will be damaged as well because their big Asian Markets came in financial difficulties. (precisely saying dried USD reserve)

In many of their own debate websites, they still believe or insist Japan funded Korea to overcome the economic crisis.

Our Japanese government has been working hard to make a good relationship with South Korea. We are buying so many their entertainment programs like TV dramas and songs. And our nationals over 3 million a year visit South Korea to spend a lot of money that is almost double Americans spend.

However, SK presidents always criticize Japan on the historical matters in their late term though they say they want to make a future-oriented relation at the start. We NEVER believe their words. It's impossible to make a good relationship with a country that attracts its people's popularities by criticizing Japan.

As for the territory's conflict, S Koreans mix with the annexation. So they can't think calmly on why those islets belong to their country because of their anger of the annexation. The winning allied countries decided on which islands belong to Japan. The US clearly denied S Korean's claim just after the war.

We can't use military action to solve the territory's issue under the current constitution. So we reiterated Japan and SK should resolve the problem in the international court. If SK does not want a peaceful solution, Japan have to change the constitution to resort to our military action.

I totally agree with the above. Japan should curtail its ties with South Korea so they can start a new era of history free from Japanese involvement i.e. investment, financial aid, public funding for Korean ethnic schools, special residency permit etc etc. Japan has effectively been teaching South Korea to be blunt so they can take advantages of them. It should urge South Korea to take back their expats from Japan now they are a competitive and strong economy. Some are among the wealthiest in Japan and they will certainly benefit South Korea tremendously.

About comfort women, many Japanese feel sorry for those women. But, but there are NO evidence that Japanese army forced them to be prostitutes even though some korean brokers forced them. Our stupid politician, Yohei Kono apologized SK without any evidence of Japan's coercion to make the relation with SK better. He thought that an apology leads to good relation. But the strategy can work to decent people. After all, the apology energized S Koreans.

The financial compensation between Japan and SK finished in1965. Japan legally annexed to Korea and this truth was accepted in the world. We invested large amount of money in Korea that was almost bankrupt. We banned slavery, improved infrastructure and enforced education. There's no doubt that SK did not modernize without Japanese HELP. They should appreciate Japan and complains to Japan is out of the question.

As for Senkaku islets, we should agree with resolution in the international court IF China takes a legal action. If not, it can be a double standard.

First of all, what you made examples for your government's friendly gesture to South Korea is all about the private economy.

It's Japanese companies and people who bought Korean entertainment products and visit Korea. So it's better to restrict your people not to do those things. So please do that , it's all you people's decision, not by any outward forceful result from Korea.

Second , Dokdo is Korean territory.
Therefore your government opposition and condemnation on our president's visit is totally out of normal mindset.

Japanese governmental claims on this territory seems to be all based on illusions.

The official webpage of Ministry of Foreign affairs posted 10 major reasons why Dokdo is not Korean but Japanese territory.

But each reason fails to sucessfully refute the Korean side's basis why Dokdo is Korean, actually all seem to be very far from dealing with the fundamental of this debate but for riddle.

There are several of basis documents from Japanese side that admitted Dokdo was Korean territory. One of the most remarkable examples is official government note by 'Ministry of Interior' for the national map project during the Meiji Era , it clearly told Dokdo is Korean territory therefore had nothing to do with Japanese territory, bear this in mind.

Initially Japanese government insisted that they preoccupied Dokdo than Korea but after several of refutable documents were found, they changed their opinion that Dokdo has been the indigenous territory of Japan.

Third , who is benefiting from the mutual economic trade relationship between two countries ? Japan , because many Korean companies are purchasing components and parts from Japanese companies.

For many parts , it is not because Korean companies have no technologies to produce them but it's their own cost-wisely judgement to import from Japan is cheaper than developing ,investing production facilities in Korea domestically and bearing market sales risk after producing.

Well if Japan wants to close such economic trade , you can do it and Korea will source from other nations like EU for some time where are already offering better price under FTA agreement and then will be gradually shifting into domestic procurement.

Or I support Korean private companies will make new production facilities boom for these conventional parts that Korean companies import from Japan.

Being a person who was involved in a project for a key part of internal combustion engines to replace Japanese imports (because those parts made so many troubles, never reached to the agreed operation time and AS problems ) , i realized that Japanese technology sophistication level is not from long time sheer workmanlike development like EU solid quality products but short time application of carefully selected technologies initiated from other world.

I bet most other items are the same possibility for this scenario, the Korean companies will adopt this strategy if Japan really wants to close this trade relationship with Korea. I think this is not bad although it will also make trouble for Korean side too.

Korean auto companies like Hyundai/Kia now are making lower PPM than any other Japanese auto companies.

Last but not least, Japanese government is nearly verge on the bankruptcy.

It is very amusing to see that you people always say that its nothing to worry about because most of the bond holders of these national treasury are from Japanese investment organizations and Insurance companies and those base deposits are from Japanese account holders.

What if those people cannot sustain those saving anymore but need to withdraw more and more while their earning the keep level diminished ?
You have no other choice but print out or borrow from overseas.

This phenomenon will intensify significantly in a few years than anytime before because domestic demand of JPY will grow for old people's retirement expense and reconstruction for the damaged parts , this will led the higher JPY which means less export competitiveness at the same time.

You are not in position to say that Japan shall stop to help Korea financially but mind your own economy.

If you think your nation is helping Korea with buying Korean governmental bonds or investing in Korea , then you are too native.

Funny..I cannot recall that we receive any apologies ..
and What is the meaning of indirect compensation?
It would be better just admit that Japan did not pay a penny.
Most upseting part is not compensation. They did not apologized properly so far.

Considering that Korea never invaded Japan while Japan had invaded Korea twice (plus the subsequent colonization), Japan should just let Dokdo go.

In 1590s, Toyotomi Hideyoshi led massive army to launch two-times invasion into the Korean Peninsula. The invasion devastated Korea and given Japanese Army's "Take No Prisoner" attitude, one of their notorious acts was to kill all their enemies (soldiers and civilians) and cut thousands of Koreans' ears (as well as the ears of Chinese army sent to help the Koreans) and shipped back to Japan as "trophies". This is known as Mimizuka (Ear Mound) which had a collection of 38,000 ears that was built in Kyoto.

Of course, many commentators would say that the current generation of Japanese should not shoulder the burden of the atrocities of the Japanese in the past.

But considering how much devastation that Japan had brought to Korea and how much Japan had gained from Korea, i.e. Buddhism and Confucian culture, should Japan still dispute such tiny rocky islet with Korea?

Again the Economist article is heavily tilted towards Japan in its territorial dispute with its neighbors.

For example, the writer put down this sentence: "Then followed a Dokdo NONSENSE, in which the South refused to receive a diplomatic letter and Japan refused to take it back."

What does the writer mean by NONSENSE?

South Korea is perfectly justified to decline the letter from Noda when he used the name Takeshima in his letter. In South Korea's official stance, there is no place on this Earth which is called Takeshima.

The impolite party is the Japanese counterpart which refused to take back the letter.

This time , the fight was started by Japanese.
Their media and government strongly condemned to SK president's visit to Dokdo where is the territory and administered by SK government.
I think there was no problem on that.
The Japanese Media's hysteric response and report on the SK President's demand of apologies to their king is highly exaggerated with cutting the whole story on how the comment was initiated.
So yes it was Japan who started the fight and obssesed with Korea thesedays.
Meanwhile Japan is experiencing the same condemnation from China but they do not do what they are asking SK to do.

As long as SK won’t stop anti-Japan education, this kind of dispute never ends. Japanese are so fed up with being accused every single SK’s national election or anti-Gov’t movement. Japanese gov’t compensated millions on money and economical support for SK already but SK's media never reported fairly. SK gov’t knows using anti-Japan sentiment advantages them in many reasons.

Japanese brainwashing education's lot more harmful, guy. SK gov’t may know using anti-Japan sentiment advantages them in many reasons, but the Japanese gov looks more skillful in using anti-Korea sentiment in their domestic politics.

Anyway the media play, or a propaganda sponsored by Japan like this, doesn't work anymore, as the world has realized who Japan is.

The closer, the more you know about who someone is. All the neighboring countries of Japan ; China, Koreas, Russia and even Australia dislike Japan. The more you know about Japan, the more likely you'll dislike Japan.

I’ve read the Treaty as mentioned by Anjin-san:http://en.wikipedia.org/wiki/Treaty_on_Basic_Relations_between_Japan_and...
I think that Japan made a big mistake by making this treaty a secret because this way the Korean elite could embezzle the money and use it for their own ends instead of helping the victims it was intended for. Furthermore all the accusations from Koreans towards Japanese in connection with the atrocities committed ring somewhat false when seeing that they behaved likewise towards the Vietnamese during the Vietnam War. In all of these cases we should ask why do men behave in such ways during times of war?

The article is very interesting. As a race, the South Korean people are an envious and hateful bunch of lunitics. Most likely, they would love nothing more than to force the United States of America to choose between Japan and themselves. It seems like every past war, the ridiculous Eurasians involve the United States of America, only later to call the Americans hawks instead of doves. I can't remember the last time the United States of America actually declared a war by themselves, when the thug like South Korean mentality wasn't the primary cause. It seems like South Korea is very upset that the United States of America built Japan to be the powerhouse it is today. Perhaps, South Korea is finally realizing that the rest of the world is tired of their Nazi form of nationalism. Here in the 21st century, why would anyone consider placing a metric ounce of fuel on such a rogue and self centered South Korean culture or cause?

You are right about Koreans being lunatics, and it is about time the US realized who they are dealing with. I heard that the Koreans are building comfort women monuments all over the US, which has no factual basis that Japanese military abducted them.

I completely disagree that US built the current prosperity of Japan. It is the Japanese people themselves that worked hard and rebuilt the domestic economy after the war. US market helped the Japanese as well but that is not the whole story.

Also, you should do not forget that they were already prosperous and already a world power before the war.

You probably don't remember US declaring war because it rarely declares war. Cuba, the Philippines, Hawaii, Haiti, and etc. Invaded at Presidents' will ...

You are dead wrong. They were clearly abducted. So were Dutch women. So were Chinese women. I' ve seen Japanese military documents outlining the medical procedures for treating these women for STD's as it was ruining Japanese soldiers health in certain districts. I've heard the stories first hand. Why would you deny the abduction and forced prostitution? You think they volunteered by the hundreds? Lunacy is denying historical fact.

[emmafinneyin reply to jk2107Sep 14th, 04:00
There are quitd a lot of Chinese government stooges who pop up to cause stir trouble to benefit China.

China is the biggest beneficiary whenever Japan who it views as its rival in Asia has tensions with its neighbors.]

{Devils mins ago
[Anjin-SanAug 17th, 01:03
Erm, is it REALLY in the interest of the West to bring reconciliation to Asia? That is like nurturing your own worst enemy by forming a united East to overthrow the West from its current World domination...

No, it is in the best interest of the West to fan the flame and get Japan and China shooting at each other again... :P]

Here are more supports to your suspicion:

"As Kimie Hara of Canada’s Waterloo University points out, the US
played a significant role in the creation and manipulation of the
“Senkaku problem”: first in 1951 and then again in 1972. Under the
1951 San Francisco Treaty post-war settlement, it planted the seeds of
multiple territorial disputes between Japan and its neighbours: Japan
and 90 percent communist China over Okinawa/Senkaku, Japan and 100
percent communist USSR over the “Northern territories,” Japan and 50
percent communist Korea over the island of Takeshima (Korean: Tokdo).
These disputed territories served “as ‘wedges' securing Japan in the
Western bloc, or 'walls' dividing it from the communist sphere of
influence.”33 Again in 1972 by leaving unresolved the question of
ownership of the Senkaku islands when returning Okinawa to Japanese
administration, US Cold War planners anticipated that the Senkakus
would function as a “wedge of containment” of China. They understood
that a “territorial dispute between Japan and China, especially over
islands near Okinawa, would render the US military presence in Okinawa
more acceptable to Japan.”34 The events of 2010 proved them
far-sighted."

Both of these countries have an animosity towards one another that goes back a thousand years. Their bitterness will not dissipate any time soon. Here's what they think of one another: http://youtu.be/UOeoiY9X848

It appears Typhoon Samba is now on course to hit Seoul in the early morning of September 18th. In the meanwhile, Tokyo is roasting in the worst drought this Century. Probably a message for both of us from above...

I have just returned from a trip to Toyko. The weather was OK to me and I enjoyed the trip. I did hear from a local resident that there were some radiation fallout in Tokyo due to power plant reactor failure from Sendai earthquake and the contamination will take a long time to die off. I am not worried but it does give some eerie creeps.

What the Japanese, Koreans, and Chinese all need to realize is that all of their disputes with each other are not caused by themselves, or America, but rather by Burmese terrorist propaganda spy agents who have "penetrated" the countries listed above and are trying to destabilize Asia so the Burmese can continue with their "ethnic purifying genocides" at home without outside interference.

historically just about every major nation had committed war crimes of some kind. so did japan but more beastly than most. and so much for that.

but japan, the unconditional surrender of ww2 to the allied, to the us, and to china (on september 9, 1945 in nanjing), the still occupied yet unrepentant vassal state, now talking about its claim of any island? a joke of the century?

until it repents completely japan has no claim for anything. plaza accord took care of that pretty good and that's the end of it.

Yes it is. When the WW2 was over, SK asked for Takeshima(dokuto) to US eventhough SK was nothing has to do with WW2. US declined. This is the official document called Rusk Documents. You google to read full letter of it.

This article is one of the fairest of all articles in the past and I congratulate TE for it.
However I would like to remind that the one point is missing to be mentioned that is the war reparations between Japan and Korea were totally resolved in 1965.

As for Takeshima, it is fair to be judged at ICJ at Den Hague rather than arguing endlessly, if both parties claim they are right.
I even agree that Senkaku can be brought to ICJ, and China can bring the issue to ICJ if he accept Article 36.2 of ICJ. Though I doubt that China accepts such article, as they have been continuously insisting to the outside that territorial issues shoule be resolved between the two countries involved, which meaans,to my understanding, they will seek military solutions, as still Chinese diplomacy is dictated by the Red Army generals to the great extent.
But if China accepts that article of 36.2 and bring it to ICJ, then the article specifies that the other party, in this case Japan, must accept the dispute at ICJ.

As for the comfort ladies issue, it was first brought to the eyes of the public by a Japanese namely Yoshida, who told that he had recruited 200 ladies in Cheju, which was later proved not true by the Korean historian in Cheju, but the story had wings.

So the fact is that even Korea cannot provde materials to prove that it was true, though the anti-Japanese sentiment had been sparked by, and as you know that anti-Japanese sentiment among older aged Koreans are ardent, it has been lingering since. And the education in Korea toward Japan is such that they distribute a textbook of 70 pages to primary school students concerning Takeshima issue alone, and pupils must pass the test repeatedly, whereas in Japan some text bookds do not refer to it as it is such a small and minor island. Education about confortladies are in the same line to enhance patriotism of the people. In the background of this patriotism is the fact that their land was annexed by Japan and thei people were treated as second-class people for many years, whereas Japan owe many cultural things to Korea in history. Before the annexation Korea regarded Japan as their second-class neighbour for centuries.

Coming back to comfort ladies, I see this issue as a kind of moral issue, as in may coountries like American soldiers in Japan after the war or in Vietnam and Thailand during the Vietnam war including Koreans in Vietnam, they used the comfor ladies facilities. Many girls were sent for sex lavery everywhere and that is the history. Korean soldiers were infamous in Vietnam (200,000 nos.?) and their atrocities were called as Lai D Han, fro which Korean government neither recognize nor refer in history books, though some Christian curches are making charity activities. In thise sense Japanese goverment established Asian Women's Fund and did distribute compensations. This Fund was closed in 2007.

This calling for ICJ judgement is a rather old and transparent trick, known as 'insert yourself into a legal proceeding where you have no legal standing, and you have nothing to lose but possibility to gain'. Deep down Japan knows it only has legitimate claim on the four major islands.

My analysis clearly shows that SK can file a case with ICJ to formalize its ownership of Dokdo, and China (together with US) can file a case with ICJ to correct the mistake of SF treaty when China's justifiable participation was denied, in both cases, Japan has no legal standing.

In civil cases,the mechanism to stop the dirty trick of inserting oneself into something one has no legal standing is called counter sue, in the case of DiaoYu, I wonder if Japan would agree that if ICJ finds Japan erred on DiaoYu, Japan will also lose Ryukyu?

Hoshu
to Hoshu
So let us together promote to bring the cases, including Ryukyu if you wish, to ICJ. As I explained to you before Japan cannot refuse ICJ to take up the issue since he accepted 36.2 of ICJ charter, wherther he agrees or not.
You better promote that China accepts that article 37.2 of ICJ and bring the matter to ICJ, although I cannot gurantee your safety if you are living in China.
I prefer to accept any judgements by ICJ to continue this barren arguments with fanatics.

USA has clearly sated that they will not comment on the territorial issue about Senkaku. You just convince China and your friends' opinions to accept ICJ 36.2 and bring the case to ICJ, to which as I repeatedly said that Japan cannot refuse but to respect the judgement. If the judgement will be negative for Japan, so be it. If it is negative for China you will see what will happen in China (I am skeptical that you live in China,though).
Anyway let's stop this fruitless argument.

I don't understand why the puppet government of the South Vietnam let the SK soldiers to kill too much Southern Vietnamese on our southern soil? That puppet government even didn't stop the SK soldiers from insanely killing and raping the Vietnamese. Even only the Vietcongs who were managing the North blamed them for their sins. How did that puppet government mamage the South Vietnam?

Nguyen Van Thieu and the bunch of the South Vietnam's officials were so futile, stupid and corrupt guys. They even couldn't protect our southern citizens.

This bunch of stupid guys invited the S. Koreans into our southern soil to kill and rape our people. I wonder why they couldn't kill the S. Korean soldiers who killed their citizens.

US is the linchpin that ties the two disjoint cases together. Without the US, Japan vs. China case has no legal merit.

That's why I think you guys are, well, to be frank, stupid. When US refuses to get involved, the only legal (and proper) way is for Japan and China to engage in out-of-court settlement negotiations, if Japan pressures China to go to ICJ, China might as well file petition to ICJ to issue eviction orders, not only there are reasonable merit for ICJ to issue the order, but also in case of court rejection, it will not preclude China from filing for adverse possession proceedings again in the future, at a more opportune time, such as when there is a commonwealth or even a confederation across the Taiwan strait.

US will have nothing to do with territorial dispute regarding Senkaku. It is purely an issue between Japan and Communist China. So, do not argue nonsense anymore. If China is confident to win, he can file the case at ICJ.
Already many Japanese tourists and residents are attacked in the streets of Shanghai by the fanatics and complete idiots like you under the guidance of the party.

Well, there are over one billion Chinese and over 10 million in Shanghai alone, I am not responsible to every one of their behavior. Just like you can not be responsible to every japanese soldier's and every Japanese war criminals' behavior.

These Shanghai fellows' wrong behavior in no way changes the legal argument I put forward here. That is, Japan simply does not have any legal standing in the dispute over DiaoYu, because the warrant deed Japan holds is a color of title and have no legal validity whatsoever (look up some rudimentary legal concept on the internet, will ya?), especially when the US refuses to repair the defects in its title and Japan is too cheap to purchase some title insurance for protection.

Japanese tourists and residents shall seek safety back home if what you said is true (I don't see any threat towards Japanese in Shanghai, by the way). And I'll call upon Chinese government to provide travel arrangement for Japanese nationals to go home if they wish to do so. But again, all these do not change the legal validity of my argument.

hey, do you live in Shanghai?
do you hear such news about the attack or see the news on tv?

hahahahah
your legal validy?
come on. nothing changes my legal validity, either, as long as you are barking in this place.

by the way, Chinese legal validity can be changed at any moment according to the positions of the politobureau and red army.
that validity is always special Chines and therefore never and international.

I went to school in Japan for a while and I learned about comfort wives, the massacure in Nanjing, and the inhumane crimes committed by Japanese soldiers.

All this talk about which country has a superior culture, who is more right, and what not is silly, and like others have said, it is getting really old. I hope my generation of people in their 30s and younger don't buy into all this stupid arguing on an emotional level, and learn to respect one another as Asians. Territorial disputes happen. There's no need to go into name calling from that.

The problem is that either sides are too stubborn, and too stupid, to make a constructive move. The problem is that there are far too many crazy far-right/right-wingers in either countries.

Both countries are accusing each other and both countries feel that they are right and the other is wrong. It's getting old. This is going nowhere because neither sides can admit or budge an inch and say that they are wrong. It's like watching children fight.

It's funny that some Japanese here insist everyone else to file proof of ownership of these islands at international court of justice, while Japa refuses to go to the ICJ for its claim of sovereignty for this cockamania 'purchase' of DiaoYu. Glaring inconsistencies, won't you say?

I am still of the opinion that ICJ dose not adjudicate territory disputes, but since you guys insist, I will offer the following layman's legal opinion:

South Korea should file an affidavit with ICJ, attesting:
1) that SK took possession of Dokdo 1950 and continuously exercized sovereign rights on and around the island, including but not limited to presidential visit and military exercises. and,
2) None of the legal title holder, ie. the signatories of Potsdam Declaration, has ever contested such possession in the intervening years (attach a copy of Potsdam Declaration for good effect).

Then, voila! SK gets itself a clean, legit, and enforcable deed to hold Dokdo island in its entity and in perpetuity.

Now, as a courtecy, SK can specify a 90-day period for relevant parties, ie., signatories of Potsdam Declaration, to submit contravening evidences of the fact that none had ever contested SK's possession of Dokdo.

Also, to add some personal flair, as president Lee seems like to do, Mr. Lee can send a note to Japanese emperor, instructing him that Japan has no legal standing, whatsoever, in this legal proceeding. And close the note with a "Ha! kiss my a**!".

Ignore the details, and get to the heart of the matter. Why can neither countries ever admit that they are wrong?
Both countries are blind in their self-righteous indignation. Feeling arbitrarily right is the ONLY choice that they can make. They are not free to make decisions, their behavior is automatic and compulsive. If they do not automatically feel right then they are thrown into panic. They MUST feel right in some ways.

Unfortunately, what you said is quite true even in these discussions. My calm and rational analysis got attacked, but when someone threw a load of vicious and abusive language at ironman(?), he answered 'thank you' and became quiet. I wish I knew how to cuss like that poster...haha.

Japan only has three immediate neighbors, Russia, China and Korea. It has territorial disputes with all of them. In many ways, Japan is very much like Israel. It is the bully in the neighborhood because it has the backing of the United States. Just like Israel, Japan probably won't exist after the U.S. is no longer the sole superpower in the world.